GLOBAL MARKETS-Asia stocks edge down; dollar rides Treasury yields higher

Asian shares tracked a negative lead from Wall Street on Wednesday, while the dollar and Treasury yields jumped as traders pared back expectations for the pace and scale of rate cuts by the Federal Reserve this year. Futures now point to about 87 basis points of easing priced in for the Fed this year, as compared to 110 bps prior to the data release and 160 bps at the end of last year. That kept pressure on global stocks, which had rallied strongly towards the end of last year on aggressive bets for rate cuts by major central banks globally in 2024.